Brembo 2022 financial results

Results at 31 December 2022:

• Revenues at €3,629 million, +30.7% compared to the previous year (+25.1% on a like-for-like exchange rate basis; +22.0% on a like-for-like consolidation and exchange rate basis)
• EBITDA at €625.2 million (EBITDA margin: 17.2%); EBIT at €382.8 million (EBIT margin: 10.5%)
• Net investments and increases in leased assets at € 319.6 million
• Net financial debt decreased by €128.6 million compared to 30 September 2022

Executive Chairman Matteo Tiraboschi stated: “Brembo closed 2022 on a satisfactory note. In terms of revenues, margins and net profit, we reported the highest figures ever in the Company’s history. All the main segments in which we operate contributed to this result. This milestone was reached in spite of the complexities of a year especially marked by the consequences of the war in Ukraine and persistent inflation pressures on the raw material markets. The strategy that has been outlined in the past few years has proven capable to effectively maintain Brembo’s competitiveness at the highest levels, in a context that remains challenging. The innovation of our solutions continues to be focussed on digitalisation and sustainability — two key elements for the Brembo of tomorrow. The development of our innovative smart braking system Sensify, as well as the frontier research of the California-based Brembo Inspiration Lab, is heading in this direction. To further support this path, in October 2022 we announced the incorporation of Brembo Ventures, our new venture capital unit tasked with investing in the best technological start-ups. We have entered the new year aware that the results achieved in 2022 will be the foundation for continuing to invest in our future.”